Harrisons buys Famous Amos Singapore

PETALING JAYA: Harrisons Holdings (Malaysia) Bhd’s indirect subsidiary Famous Food Co Pte Ltd (FFC) is buying the entire stake in Famous Amos Chocolate Chip Cookie Singapore Pte Ltd (Amos) for S$5.7 million (RM17.1 million).

Amos is principally engaged in retailing cookies under the “Famous Amos” brand in Singapore, while FFC is in investment holdings firm.

The group told the stock exchange yesterday that FFC has entered into a sale and purchase agreement with Amos’ directors for the proposed transaction.

The group noted that Harrisons Peninsular Sdn Bhd (HPSB), a wholly owned subsidiary of the group and the immediate holding company of FFC will contribute its 68% share of the purchase price amounts to S$3.9 million, which will be funded through bank borrowings.

Harrisons said this acquisition will further enable the group to capitalise on its overseas expansion platform to further expand its distribution and wholesaling business.

“Harrisons plans to expand to other regional territories with this established brand together with the Komonoya brand,” it noted.

Harrisons recently acquired 100% of Watts Harrisons Sdn Bhd which retails and wholesales the uniform price products under the Komonoya brand in Malaysia, Singapore and Brunei.